Allowed

Union Bank of India v. Vijayalakshmi

DRT24 Jul 2025OA/56/2022

Case brief

AI extract

What is this about?

Union Bank filed an original application for recovery of dues aggregating to over Rs. 36 Lakhs arising from a home loan and cash credit facilities. defendants failed to appear, and the Tribunal allowed the application granting recovery through sale of hypothecated assets.

What did the court decide?

Recovery of Rs. 36,41,787.60 plus future interest and costs; liberty to sell hypothecated and personal assets.

Union Bank of India versus Vijayalakshmi — Contract and Commercial Disputes | DRT (2025)

¶1

O.A. No. 56 of 2022

¶2

24.07.2025

¶3

¶4

IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

¶5

Dated this the 24^th day of July, 2025

¶6

Present: SMT. S.V. GOWRAMMA Presiding Officer

¶7

ORIGINAL APPLICATION No. 56 of 2022

¶8

UNION BANK OF INDIA (erstwhile ANDHRA BANK) Kilpauk Branch Plot No A-46, Door No 2/75, New Avadi Road, Kilpauk, Chennai – 600010 ….Applicant

¶9

-Vs-

¶10

Mrs. K. Vijayalakshmi W/o. Mr.A.Sankar No. 13, 1^st Cross Street, Srinivasa Nagar, Kolathur, Chennai- -99

¶11

Mr. A. Sankar S/o. Mr.A.Arikrishnan No. 13, 1^st Cross Street, Srinivasa Nagar, Kolathur, Chennai- -99

¶12

M/s. Kiran Agencies (Rep by its Proprietrix Mrs. K. Vijayalakshmi) No. 75/1, East Mada Street, Villivakkam, Chennai -49

¶13

And also M/s. Kiran Agencies (Rep by its Proprietrix Mrs. K. Vijayalakshmi) No. 241/A, 1^st Street, Baba Nagar, Villivakkam, Chennai -49 …..Defendants

¶14

Counsels on record / appeared:

¶15

Counsel for Applicant : M/s. J.M. Dharma Sanjeevi Defendants were set ex-parte on 27.07.2022

¶16

O.A. No. 56 of 2022

¶17

¶18

24.07.2025

¶19

: - FINAL ORDER - :

¶20

This original application is filed on 14.12.2021 by the applicant bank under Section 19 (1) of Recovery of Debts and Bankruptcy Act, 1993 (formerly Recovery of Debts Due to Banks and Financial Institutions Act, 1993) against the defendants jointly and severally for recovery of a total sum of Rs. 36,41,787.6p (Rupees Thirty Six Lakhs Forty One Thousand Seven Hundred Eighty Seven and Six Paise Only) as follows:

¶21

(i) A sum of Rs.7,96,355.99/-(Rupees Seven Lakhs Ninety Six Thousand Three Hundred and Fifty Five and Ninety Nine paise Only) due in respect of Home Loan facility (A/c No.161630100000070) from Defendants 1 and 2 jointly and severally, repayable together with further interest @ 10.50% p.a. with monthly rests from the date of filing the OA, till date of realization in full;

¶22

(ii) A sum of Rs.28,45,431.61/-(Rupees Twenty Eight Lakhs Fourty Five Thousand Four Hundred and Thirty One and Sixty One Paise Only) due in respect of Open Cash Credit Facility (A/c No.161613100000007) from Defendants 1 to 3 jointly and severally, repayable together with further interest @ 11.50% p.a. with monthly rests from the date of filing the OA till date of

¶23

O.A. No. 56 of 2022

24.07.2025

realization in full;

for sale of ‘A’ Schedule mentioned hypothecated property morefully

¶28

detailed in Schedule to the OA, and for costs of this application;

¶29

Brief Facts of the case:

¶30

The Applicant submits that the application is filed within the period of limitation as prescribed under Section 24 of the Recovery of Debts and Bankruptcy Act, 1993, and the subject recovery claim falls within the jurisdiction of this Tribunal.

¶31

The original lender is Andhra Bank. The Central Government in consultation with RBI and in exercise of the powers conferred by Section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970) and Section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980) notified the Amalgamation of Andhra Bank and Corporation Bank into Union Bank of India Scheme, 2020 vide the Gazette of India (Extraordinary) notification dated 04.03.2020 making the scheme effective from 01.04.2020.

¶32

It is the case of the applicant bank that the first defendant is the borrower and the Second Defendant is the guarantor in respect of the Term (Housing) Loan facility availed from the applicant bank. The third Defendant is M/s. Kiran Agencies, a proprietorship firm represented by its Proprietrix, Mrs. K. Vijayalakshmi, first defendant herein. The Third Defendant represented by the First Defendant is the borrower in respect

¶33

O.A. No. 56 of 2022

¶34

24.07.2025

¶35

¶36

of the Open Cash Credit Facility availed from the applicant bank. The second defendant is the guarantor for the Open Cash Credit facility availed by the third defendant.

¶37

TERM LOAN FACILITY AVAILED IN 2009 FOR A SUM OF Rs. 10,55,000/-

¶38

It is submitted by applicant bank that the First and Second Defendants approached the Applicant bank with an Application dated 25.09.2009 for the purpose of availing a Term (Housing) loan for a sum of Rs.10,55,000/- (Rupees Ten lakhs fifty five thousand only). Consdiering the said request, the applicant bank had sanctioned the Term Loan facility and communicated vide Sanction letter dated 20.11.2009, the specific terms and conditions mentioned therein. The Term Loan was repayable in 233 monthly instalments at Rs. 8750/- payable each month. The interest rate payable was 8% for the first year with monthly rests and thereafter as per the terms and conditions. The loan was granted by the Applicant essentially to take over the existing Housing Loan Liability which the first defendant had to settle with Federal Bank, Chennai. The terms of sanction were accepted by the First and Second defendants.

¶39

In consideration of the sanction of the Term Loan facility, the First and Second Defendants executed a Composite Agreement dated 24.11.2009 for a sum of Rs. 10,55,000/-.

¶40

O.A. No. 56 of 2022

¶41

24.07.2025

¶42

¶43

Applicant Bank submitted that the first defendant had, with an intent to create equitable mortgage in favour of the applicant bank, for the credit limits availed, deposited her original title deeds being (i) Original Settlement deed dated 23/06/2008 registered as document no. 2836 of 2008in the SRO, Konnur, for 1/6^th Undivided share in land measuring an extent of 2179 sq.ft. comprised in S. No. 200/2A and 200/2B, T.S. No. 126, Plot No. 241-A in Konnur village, Perambur, PurasaiTaluk, Chennai District and (ii) Photo Copy of Construction Agreement between M/s. CSG constructions and Mrs. K. Vijayalakshmi for Flat in 1^st Floor in Plot No. 241-A, Door No. 17 Baba Nagar 1^st Street, Villivakkam, Chennai 600049. A Memorandum of Deposit of Title Deeds dated 25.03.2010 registered as Document no. 1586 of 2010 reflecting the aforesaid mortgage for the value of Rs. 20,55,000/- was executed by the First defendant Mrs. K. Vijaya Lakshmi in favour of Andhra Bank, Kilpauk Branch, Chennai – 600 010.

¶44

It is further submitted that the Original title deeds / documents deposited vide the aforesaid Memorandum of Deposit of title deeds with the Applicant bank by the First Defendant with respect to Schedule ‘A’ property are as follows:

¶45

i. Settlement deed dated 23/06/2008 registered as document no. 2836 of 2008in the SRO Konnur executed by Mr. V. Kalidas in favour of K. Vijaya Lakshmi.

¶46

O.A. No. 56 of 2022

¶47

24.07.2025

¶48

¶49

ii. Photo Copy of Construction Agreement between M/s. CSG constructions and Mrs. K. Vijayalakshmi

¶50

iii. Encumbrance certificate No. 3192 dated 10/04/2010from the period of 06/10/2009 to 08/04/2010

¶51

iv. Encumbrance certificate No. 3440 dated 09/04/2014from the period of 01/01/2010 to 08/04/2014.

¶52

v. Encumbrance certificate No. 8619 dated 05/12/2017from the period of 01/01/2009 to 04/12/2017.

¶53

OPEN CASH CREDIT FACILITY AVAILED IN 2014 FOR A SUM OFRs. 20,00,000/-

¶54

It is the further case of the Applicant Bank that M/s. Kiran Agencies, the third defendant proprietorship firm represented by its Propreitrix, Mrs. Vijayalakshmi, arrayed also in her individual capacity as the first defendant, herein requested an Open Cash Credit Facility to meet the business requirements which was sanctioned by the Applicant bank vide Sanction letter dated 21.11.2014 for a sum of Rs. 20,00,000/- (Rupees Twenty Lakhs only) subject to fulfillment of specific terms and conditions mentioned therein. The terms of sanction were accepted by the Third defendant represented by the First defendant and the Second defendant guaranteed the repayment of the Cash Credit Facility. The applicant bank submits that the Cash Credit Facility was subject to a base rate interest of 10.25% plus spread of 3.75% aggregating to 14.00% per annum. The

¶55

O.A. No. 56 of 2022

¶56

24.07.2025

¶57

¶58

Third Defendant hypothecated stocks and receivables in favour of the Applicant as Primary Security and the existing mortgage for the Schedule B immovable property was to be duly extended to cover this credit facility.

¶59

In consideration of the sanction of the Open Cash Credit Facility, M/s. Kiran Agencies, the third defendant Proprietorship firm represented

¶60

by its Proprietrix , Mrs. K. Vijayalakshmi, the first defendant herein, executed the following documents:

¶61

i. Demand Promissory Note dated 22/11/2014 for a sum of Rs. 20,00,000/-.

¶62

ii. General Form of Guarantee by the 3^rd defendant dated 22/11/2014 for a sum of Rs. 20,00,000/-.

¶63

iii. Consent Letter to be obtained from Borrower for disclosure of information to “CIBIL” dated 22/11/2014 for a sum of Rs. 20,00,000/-.

¶64

The following documents were executed by Mr. A. Sankar, Coobligants /Guarantor, the 2^nd Defendant/Guarantor

¶65

i. Consent Letter to be obtained from Guarantors for disclosure of information to “CIBIL” dated 22/11/2014 for a sum of Rs. 20,00,000/-.

¶66

ii. General Form of Guarantee by the 2nd defendant dated 22/11/2014 for a sum of Rs. 20,00,000/-.

¶67

O.A. No. 56 of 2022

¶68

¶69

24.07.2025

¶70

A Composite Agreement dated 22.11.2014 for a sum of Rs. 20,00,000/- was executed by the 3^rd defendant Proprietorship Firm M/s. Kiran Agencies, represented by its Proprietrix Mrs. K. Vijayalakshmi, the first defendant herein along with the Mr. A. Sankar, the Guarantor arraigned as the Second Defendant herein.

¶71

It is submitted that a Supplemental Memorandum of Deposit of Title Deeds dated 02/01/2015 with Document No. 13 of 2015 in the SRO, Konnur for securing the additional credit facility for the value of Rs. 10,00,000/- was duly executed by the First defendant, Mrs. K. Vijaya Lakshmi in favour of Andhra Bank, Kilpauk Branch, Chennai– 10.

¶72

ENHANCEMENT OF OPEN CASH CREDIT FACILITY AVAILED IN 2016 FOR A SUM OF Rs. 22,00,000/-

¶73

The Applicant Bank submits that M/s. Kiran Agencies, the third defendant represented by its Proprietrix Mrs. K. Vijayalakshmi requested the applicant for an enhancement of the existing Open Cash Credit Facility from Rs.20,00,000/-to a sum of Rs. 22,00,000/- (Twenty Two Lakhs only)-.The request for enhancement was sanctioned vide Sanction letter dated 02/03/2016 issued by the Applicant Bank subject to fulfillment of specific terms and conditions mentioned therein. The terms of sanction were duly accepted by the defendants. The applicant bank submits that the Cash Credit Facility was subject to an interest which was the base rate at 9.5% plus spread of 3.75% which aggregated to 13.50% per annum.

¶74

O.A. No. 56 of 2022

¶75

¶76

24.07.2025

¶77

Stocks and Receivables were to be hypothecated as Primary Security and the existing mortgage for the Schedule B property was to be extended for the enhanced credit limits.

¶78

It is submitted by applicant bank that in consideration of the sanction of the enhancement of the Open Cash Credit Facility, the following documents were executed:

¶79

i. Demand Promissory Note dated 03/03/2016 for a sum of Rs. 22,00,000/ by Kiran Agencies represented by its propreitrix Mrs. K. Vijayalakshmi and the Guarantor-Mr A. Sankar.-.

¶80

ii. Composite Agreement dated 03/03/2016 for a sum of Rs. 22,00,000/- by Kiran Agencies represented by its propreitrix Mrs. K.Vijayalakshmi and the Guarantor- Mr. A. Sankar.

¶81

iii. General Form of Guarantee by Mrs. K.Vijayalakshmi dated 0 3/03/2016 for a sum of Rs. 22,00,000/-.

¶82

iv. General Form of Guarantee by Mr. A .Sankar, dated 03/03/2016 for a sum of Rs. 22,00,000/-.

¶83

OPEN CASH CREDIT FACILITY AVAILED IN 2017 FOR A SUM OF Rs. 22,00,000/-

¶84

The third defendant, M/s. Kiran Agencies represented by its Proprietrix Mrs. K. Vijayalakshmi, the first defendant, had applied for renewal of their Open Cash Credit Facility vide an Application dated 01/05/2017.

¶85

O.A. No. 56 of 2022

¶86

¶87

24.07.2025

¶88

The Applicant Bank sanctioned the renewal vide Sanction letter dated 27/06/2017, for a sum of Rs. 22,00,000/- (Twenty Two Lakhs only) subject to fulfillment of specific terms and conditions mentioned therein. The terms of renewal were accepted by Kiran Agencies, the Third defendant represented by Mrs. K. Vijayalakshmi, the First defendant and also by the Co- obligants /Guarantor Mr. A. Sankar, the second defendant. The applicant bank submits that the Open Cash Credit Facility was subject to an interest base rate which was 8.65% plus spread of 4.30% aggregating to a sum of 12.95% per annum.

¶89

In consideration of the renewal of the Open Cash Credit Facility, the following documents were executed:

¶90

i. Demand Promissory Note dated 27/06/2017 for a sum of Rs. 2

¶91

2,00,000/- by the defendants.

¶92

ii. Consent Letter to be obtained from Borrower for disclosure of information to “CIBIL” dated 27/06/2017 for a sum of Rs. 22,00,000/- by Mrs. K. Vijayalakshmi.

¶93

iii. Consent Letter to be obtained from Guarantor for disclosure of information to “CIBIL” dated 27/06/2017 for a sum of Rs. 22,00,000/- By Mr. A. Sankar.

¶94

iv. Composite Agreement dated 27/06/2017 for a sum of Rs. 22,00,000/- By Kiran Agencies the Third Defendant represented by Mrs. K. Vijayalakshmi First defendant and also Mr. A. Sankar

¶95

O.A. No. 56 of 2022

¶96

24.07.2025

¶97

¶98

OPEN CASH CREDIT FACILITY (RENEWAL) DATED 01/07/2018 FOR A SUM OF Rs. 22,00,000/-

¶99

The Applicant Bank submits that M/s. Kiran Agencies, the third defendant represented by Mrs. K. Vijayalakshmi, the first defendant requested renewal of an Open Cash Credit Facility, which was sanctioned vide Sanction letter dated 03/07/2018, for a sum of Rs. 22,00,000/(Twenty Two Lakhs only) subject to fulfillment of specific terms and conditions mentioned therein. The terms of sanction were accepted by the defendants. The applicant bank submits that the Open Cash Credit Facility was subject to an interest base rate which was 8.55% plus spread of 4.30% aggregating to 12.85% per annum.

¶100

In consideration of the renewal of the Open Cash Credit Facility, the following documents were duly executed:

¶101

i. Demand Promissory Note dated 03/07/2018 for a sum of Rs. 22,00,000/-. By Kiran Agencies represented by Mrs. K. Vijayalaksmi

¶102

and Mr. A. Sankar Co-obligants /Guarantor.

¶103

ii. Letter of undertaking dated 03/07/2018 for a sum of Rs. 22,00,000/-.

¶104

iii. Composite Agreement dated 03/07/2018 for a sum of Rs. 22,00,000/-. By Kiran Agencies represented by Mrs. K. Vijayalaksmi and Mr. A. Sankar.

¶105

O.A. No. 56 of 2022

¶106

¶107

24.07.2025

¶108

The said facility was availed by the defendant and utilized accordingly.

¶109

OPEN CASH CREDIT FACILITY RENEWAL DATED 01/09/2019 Rs. 22,00,000/-

¶110

It is further submitted by applicant bank that the Third Defendant represented by the first defendant approached the Applicant bank with a Renewal Application dated 01/09/2019 for the business purpose for a sum of Rs.22,00,000/- (Rupees Twenty Two lakhs only). This Applicant sanctioned the renewal of the Open Cash Credit facility and communicated vide Sanction letter dated 20/09/2019, the specific terms and conditions mentioned therein. The terms of renewed sanction were accepted by the defendants. The applicant bank submits that the renewed Open Cash Credit Facility was subject to an interest base rate which was 8.40% plus 4.30% being Andhra Bank’s Base rate with a minimum of 12.70% per annum.

¶111

In consideration of the renewed sanction of the Open Cash Credit facility, the following documents were executed:

¶112

i. Demand Promissory Note dated 20/09/2019 for a sum of Rs. 22,00,000/- By Kiran Agencies represented by Mrs. K. Vijayalaksmi. ii. Composite Agreement dated 20/09/2019 for a sum of Rs. 22,00,000/- /-. By Kiran Agencies represented by Mrs. K. Vijayalaksmi and by Mr. A. Sankar Co-obligants /Guarantor.

¶113

O.A. No. 56 of 2022

¶114

¶115

24.07.2025

¶116

The said facility was duly availed and utilized by the defendants.

¶117

The Applicant bank submits that the Defendants 1 to 3, after availing the aforesaid credit facilities i.e. Term Loan and Open Cash Credit Facility, have failed and neglected to fulfill their obligations as per the terms and conditions and thereby committed willful and cumulative payment defaults. As a result of which, the Defendant’s account was classified/declared as Non-Performing Asset (NPA) as on 01.03.2021. The Applicant bank submits that despite several attempts made by the Applicant to persuade the defendants to pay their dues, the defendants have not made any payment to clear their outstanding. The applicant bank through its Authorised Officer on 30/04/2021 issued a demand notice under Sec 13(2) of the SARFAESI Act, 2002 calling upon the Defendants to repay the sums due under the credit facilities availed. Despite receipt of the demand notice the Defendants 1 to 3, are evading to effect repayment of the principal amount together with interest due to the Applicant Bank till date. Hence the present Original Application (OA) has been filed by applicant bank for recovery of amounts due from defendants.

¶118

After the filing of the OA, summons were sent to Defendants 1 to 3 through Registered Post with Acknowledgment Due, which were returned unserved in respect of D1 and D2. Summons to D3 served in one address. Applicant bank had caused paper publication of the notice and

¶119

O.A. No. 56 of 2022

¶120

24.07.2025

¶121

¶122

filed proof thereof. When OA was taken up on 27.07.2022 even after giving sufficient time, there was no appearance or representation from the defendants. Hence, defendants 1 to 3 were placed ex-parte on 27.07.2022.

¶123

Heard the submissions of Applicant Bank and perused the records.

¶124

To prove the case of the Applicant Bank, Mr. Saurabh Shekhar, Constituted Attorney representing the Applicant Bank, has filed his Affidavit by way of evidence and same was considered as evidence of AW1 and list of documents came to be marked as Ex A-1 to A-34 . As the Defendant remained ex-parte, the OA claim remains unchallenged. There is no contra evidence available on record to repudiate the claim of the Applicant Bank.

¶125

With regard to the amount advanced, the interest applied, the conduct and operations in the account and the default committed, this Tribunal comes to the conclusion that the applicant bank is entitled for a final order on the following terms:

¶126

: O R D E R :

¶127

The OA is allowed with costs,

¶128

(a) The applicant bank is allowed to recover from the Defendants

¶129

jointly and severally, a sum of Rs. 36,41,787.6p (Rupees

¶130

O.A. No. 56 of 2022

¶131

24.07.2025

¶132

¶133

Thirty Six Lakhs Forty One Thousand Seven Hundred Eighty Seven and Six Paise Only) as follows:

¶134

¶135

¶136

(b) In the event of failure of the Defendants to pay the aforesaid amount, the bank is at liberty to recover the amount by sale of the schedule A mentioned hypothecated assets and schedule B mentioned immovable property.

¶137

¶138

O.A. No. 56 of 2022

¶139

24.07.2025

¶140

¶141

(d) If the sale proceeds of the hypothecated assets and immovable properties are not sufficient to satisfy the dues as ordered above, the applicant bank is at liberty to sell the personal assets of the Defendants 1 and 2 (both movable and immovable) to recover the balance dues as required under law for which the Defendants 1 and 2 to disclose to the Tribunal particulars of other properties or assets owned by the Defendants 1 and 2.

¶142

(e) The applicant bank shall file the latest memo of calculation of OA amount together with interest, costs etc., to be paid by the Defendants duly considering the amounts, if any, paid by the Defendant and/or amount realized by sale of assets etc., during the intervening period after the filing of the OA, enabling the Registry to prepare Recovery Certificate for the amount to be paid by Defendant to the applicant bank.

¶143

(f) The applicant bank shall file memo of costs within ten days from the date of receipt of this final order.

¶144

(g) Recovery Certificate shall be drawn up and issued to the Recovery Officer in terms of the final order.

¶145

O.A. No. 56 of 2022

¶146

24.07.2025

¶147

¶148

A copy of this order be communicated to the parties concerned.

¶149

Sd/(S.V. GOWRAMMA) PRESIDING OFFICER, DRT-III, CHENNAI

¶150

(Dictated to Steno (Deepika), transcribed by her, corrected, signed and pronounced by me on this the 24^th day of July, 2025)

¶151

ANNEXURES

¶152

WITNESSES EXAMINED FOR THE APPLICANT BANK :

¶153

AW-1: Mr. Saurabh Shekhar, Constituted Attorney representing the Applicant Bank.

¶154

Exhibits on the part of the Applicant:

¶155

Sl. No.	Description of Documents	Exhibit No.
1.	Application for a sum of Rs. 10,55,000/- dated 25.09.2009.	A-1
2.	Sanction letter for a sum of Rs. 10,55,000/- dated 20.11.2009.	A-2
3.	Composite Agreement for a sum of Rs. 10,55,000/-dated 24.11.2009.	A-3
4.	Settlement deed document no. 2836 of executed by Mr. V. Kalidas in favour of K. Vijaya Lakshmi dated 23.06.2008.	A-4
5.	Memorandum of Deposit of Title Deeds with document no. 1586 of 2010 dated 25.03.2010.	A-5
6.	Encumbrance certificate No. 3192 from the period of 06/10/2009 to 08/04/2010 dated 10.04.2010.	A-6
7.	Encumbrance certificate No. 3440 from the period of 01/01/2010 to 08/04/2014 dated 09.04.2014.	A-7
8.	Encumbrance certificate No. 8619 from the period of 01/01/2009 to 04/12/2017 dated 05.12.2017.	A-8
9.	Sanction Letter for a sum of Rs. 20,00,000/- dated 21.11.2014.	A-9

¶156

O.A. No. 56 of 2022

¶157

¶158

24.07.2025

¶159

10.	Demand Promissory Note for a sum of Rs. 20,00,000/-dated 22.11.2014.	A-10
11.	General Form of Guarantee by the 3^rddefendant for a sum of Rs. 20,00,000/-dated 22.11.2014.	A-11
12.	Consent Letter to be obtained from Borrower for disclosure of information to “CIBIL” for a sum of Rs. 20,00,000/-dated 22.11.2014.	A-12
13.	Consent Letter to be obtained from Guarantors for disclosure of information to “CIBIL” for a sum of Rs. 20,00,000/-dated 22.11.2014.	A-13
14.	General Form of Guarantee by the 2^nddefendant for a sum of Rs. 20,00,000/-dated 22.11.2014.	A-14
15.	Composite Agreement for a sum of Rs. 20,00,000/-dated 22.11.2014.	A-15
16.	Supplemental Memorandum of Deposit of Title Deeds Document No. 13/2015 executed by Mrs. K. Vijaya Lakshmi in favour of Andhra Bank dated 02.01.2015.	A-16
17.	Sanction Letter for a sum of Rs. 22,00,000/- dated 02.03.2016.	A-17
18.	Demand Promissory Note for a sum of Rs. 22,00,000/-dated 03.03.2016.	A-18
19.	Composite Agreement for a sum of Rs. 22,00,000/-dated 03.03.2016.	A-19
20.	General Form of Guarantee by Mrs. K.Vijayalakshmi for a sum of Rs. 22,00,000/- dated 03.03.2016.	A-20
21.	General Form of Guarantee by Mr. A .Sankar, for a sum of Rs. 22,00,000/-dated 03.03.2016.	A-21
22.	Application for Renewal Open Cash Credit facility for a sum of Rs. 22,00,000/- dated 01.05.2017.	A-22
23.	Sanction Letter for a sum of Rs. 22,00,000/- dated 27.06.2017.	A-23
24.	Demand Promissory Note for a sum of Rs. 22,00,000/-dated 27.06.2017.	A-24
25.	Consent Letter to be obtained from Borrower for disclosure of information to “CIBIL” for a sum of Rs. 22,00,000/-dated 27.06.2017.	A-25
26.	Consent Letter to be obtained from Guarantor for disclosure of information to “CIBIL” for a sum of Rs. 22,00,000/-dated 27.06.2017.	A-26
27.	Composite Agreement for a sum of Rs.	A-27

¶160

O.A. No. 56 of 2022

¶161

¶162

24.07.2025

¶163

	22,00,000/-dated 27.06.2017.
28.	Sanction Letter for a sum of dated 03.07.2018.	Rs. 22,00,0	00/-	A-28
29.	Demand Promissory Note for 22,00,000/-dated 03.07.2018.	a sum of	Rs.	A-29
30.	Composite Agreement for a 22,00,000/-dated 03.07.2018.	sum of	Rs.	A-30
31.	Sanction Letter for a sum of dated 20.09.2019.	Rs. 22,00,0	00/-	A-31
32.	Demand Promissory Note for 22,00,000/-dated 20.09.2019.	a sum of	Rs.	A-32
33.	Composite Agreement for a 22,00,000/-dated 20.09.2019.	sum of	Rs.	A-33
34.	Statement of Accounts			A-34

¶164

Witness Examined for the Defendants: -Nil-

¶165

List of Documents Exhibited for the Defendants: -Nil –

¶166

:- SCHEDULE -:

¶167

SCHEDULE –A

¶168

Hypothecation of stocks and Book – Debts/ Receivables

¶169

SCHEDULE-B

¶170

All that piece and parcel of House, Ground and premises being Flat in First Floor, Plot No. 241-A, Door No. 17, Baba Nagar, 1^st Street, Villivakkam, Chennai – 600 049 measuring an extent of 1/6^th UDS out of the total extent of 2179 sq.ft of land with Flat measuring 650 sq.ft comprising in S. No. 200/2A, 200/2B, T.S. No. 126, Block No. 3 situated at Konnur village and bounded on the

¶171

North by : 10 feet Passage South By : Houses East by : Plot No. 241-B West By : K. BalasundaramMudaliar 1^st Street

¶172

O.A. No. 56 of 2022

¶173

¶174

24.07.2025

¶175

The property lies in the Registration District of North Chennai and Sub Registration District of Konnur.

¶176

Sd/(S.V. GOWRAMMA) PRESIDING OFFICER, DRT-III, CHENNAI

Union Bank of India v. Vijayalakshmi

Case brief

What is this about?

What did the court decide?

Union Bank of India v. Vijayalakshmi

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Dbs Bank Limited versus Krishna Jewellers

Bank of Baroda versus Lalli

Indian Bank versus Rajapandi

Velmurugan versus Union Bank of India

Ags Rathna Stores Private Limited Rep by Its Director G Amutha and Four Others versus Canara Bank

Uco Bank versus K Dilli Raj And Three Others